People all over the planet talk about Liberty and Freedom. More commonly discussed here than anywhere else. But few understand it. Freedom and Liberty is based on the individual owning 100 percent of their productive power. A slave’s productive power is owned by another person or group of individuals. In reality economics is the linchpin of Freedom and Liberty.
Few discuss the issues ailing the planet. Currently there are 63 nations at war involving over 560 militia groups. (Google-warsintheworld.) Here in the USA the militias continue to grow. Seeing our faltering economy, ever growing militarization of local and federal police forces along with the perceived threat of Islamic terrorists expands fear in the people.
What can Alaskans do? Hope the federal government will leave us alone? Continue to better arm ourselves? Pray that we will not go to war with Russia? Prepare to fight Islamist terrorist on our soil? Or have a discussion on an economic plan for the future.
I have advocated for a Public Bank of Alaska. Few research the benefits. I have spoken/written about it to our elected State politicians. It falls on deaf ears. The people must generate the discussion.
According to a recent article in the Alaska Dispatch (August 27, 2014), we have $12 billion of our Permanent Fund invested in the Bond Market. Our income this year is $278 million, down from $672 million in 2000. Consider this: take our money out of bonds and use it as seed money in a Public Bank of Alaska. With the banking principle called Fractional Reserve Banking, money could be created and used for improving the productivity of the people. Never touching the principle investment. Infrastructure projects like an All-Alaska pipeline. Low interest loans for municipalities to help improve local infrastructure thus improving the productivity of the people. Less expensive student loans for furthering the educational level of our people.
Yes, there would be interest paid on these loans but it would be less than what is currently paid to Wall Street Banks and the interest payments would be income for our Permanent Fund. State and local governments could borrow from us rather than Wall Street Banks.
In a recent article in Foreign Affairs Magazine (September-October 2014), Brown University Professor Mark Blyth suggested the Federal Reserve Bank just hand out money to the poor and have them spend it into the economy. I am sure the poor folks in Ferguson, Missouri would love such a plan. But does that really help the people in the long term?
Until, we the people, have an honest discussion on economics the planet will continue to expand its military conflicts. Militias will grow throughout the nation and government will increase the Orwellian behavior to protect the masses.
